Category Archives: Economy

A group of progressive Europeans led by the economist and author Thomas Piketty has drawn up a bold new blueprint for a fairer Europe to address the division, disenchantment, inequality and rightwing populism sweeping the continent.

As we consider trivial matters such as which political party will form the government of Oz can we find time to look at the serious side of life? What is important? Banking and the world financial system for starters.

When Ken Henry (NAB Chair) tried to dismiss SC Rowena Orr’s questions about the NAB top management’s significant compliance breaches with “Well, we could have fired everybody, I suppose”, he was correct. Hayne did not call his bluff. Henry had … Continue reading →

The economic ‘reforms’ of the 1980s are supposed to have set Australia up for an unprecedented run of prosperity: 27 years, and counting, without a recession. The economy’s robustness is supposed to have saved us from the Global Financial Crisis. … Continue reading →

In the UK Budget last week, the  Chancellor, Phillip Hammond announced the end of the PF2 scheme, the Conservative government’s replacement for the discredited Public Finance Initiative originally introduced by the Conservatives under John Major, but greatly expanded  by Tony … Continue reading →

Given the lack of agreement about what are our key problems we shouldn’t be surprised that ‘economic reform’ is presently in the doldrums. But progress would be easier if the business community recognised that the old agenda to improve the … Continue reading →

As Christopher Pyne has pointed out, “We don’t need to put a handbrake on population growth, we need to manage our population growth sensibly in a country which quite frankly can take a lot more than 25 million people”. Pyne … Continue reading →

Not being aware of what is being written in economic journals by the profession I find it difficult to understand why more of our commentating economists and academic economists are not publicly calling out Trump’s economic policies. Are we to believe … Continue reading →

These simplifying images of Australia’s future Federal, State and Territory economies have been deliberately chosen to be evocative and provocative.  Our stark choice is to continue to pursue the Neoliberalism ideology that is failing so many ordinary Australians, of take … Continue reading →

Capitalism has been analysed to death in academia and elsewhere. Thus we know that capitalism is structurally conducive to exploitation, to the production and reproduction of class-based inequality, to the degradation of nature, and so on. Such analysis is of … Continue reading →

This week we’re exploring the state of nine different policy areas across Australia’s states, as detailed in Grattan Institute’s State Orange Book 2018. Read the other articles in the series here. This article was published by The Conversation on the … Continue reading →

This week we’re exploring the state of nine different policy areas across Australia’s states, as detailed in Grattan Institute’s State Orange Book 2018. Read the other articles in the series here. This article was published by The Conversation on the … Continue reading →

Opponents of privatisation accuse it of being a key part of neo-liberal ideology. But blanket opposition to privatisation seems to me to be equally ideological. Instead, privatisation should be considered on a case-by-case basis. Accordingly, this article discusses the criteria … Continue reading →

The Government and the finance sector would have us believe that the finance sector makes a valuable contribution to our economy. But is it simply a bloated overhead? Economist Mariana Mazzucato, who will deliver the second John Menadue Oration in … Continue reading →

Corporations exist to deliver profits to their shareholders. Unions exist to deliver fair wages, access to benefits like annual and sick leave to workers and to ensure workplaces are safe for all employees.

At The Australia Institute’s Revenue Summit on Wednesday I presented a paper that showed that the Federal Government’s future economic and budget forecasts are most likely wrong. Instead, I showed why a modest increase in the ratio of revenue to … Continue reading →